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As the finances of the energy-trading firm began unraveling, what even
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10 Oct 2016, 02:10
10 Oct 2016, 02:10
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Question Stats:
44% (01:06) correct
55% (01:25) wrong based on 418 sessions
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As the finances of the energy-trading firm began unraveling, what eventually became (i) ________ was that the company had been concocting “value” out of thin air, thanks not to the trading strategies it promoted as visionary but to financial (ii) ________ that turned a once-solid entity into the most notorious (iii) ________ in an era of corporate scandals.
| Blank i | Blank ii | Blank iii |
| a) vindicated | d) redemption | g) omission |
| b) unmistakable | e) responsibilities | h) boon |
| c) unverifiable | f) games | i) debacle |
Re: As the finances of the energy-trading firm began unraveling, what even
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10 Oct 2016, 02:17
10 Oct 2016, 02:17
2
Expert Reply
Explanation
1)
As the finances of the energy-trading firm began unraveling,
Here the suggestion from this modifier is that we are going to uncover the financial situation of a firm. Now, usually when something comes up in a similar scenario is something bad about the position or statement of the firm itself. Think about the real business world: IF all is fine: the balance sheet, the auditors have nothing to point out to the firm, then all is fine. Here, something is going on badly for it
2)
what eventually became (i) ________ was that the company had been concocting “value” out of thin air,
the meaning of this portion of the sentence is that, as in the financial gergo, the firm from its conducting it is selling to the stakeholders and shareholders (maybe) is fluff, nothing, fried air. It is carving "value" from nothing concrete. So, what is really clear, as the situation is emerging, is that without a shadow of the doubt, the firm is making a fraud. So B is the clear win word here.
3)
thanks not to the trading strategies it promoted as visionary but to financial (ii) ________ that turned a once-solid entity into the most notorious (iii) ________ in an era of corporate scandals.
The "value" out of thin air is the clear result of a game (think about the Ponzi Scheme for instance) which turned what was a solid and well-established firm into a debacle, a complete failure in an era of corporate scandals.
1)
As the finances of the energy-trading firm began unraveling,
Here the suggestion from this modifier is that we are going to uncover the financial situation of a firm. Now, usually when something comes up in a similar scenario is something bad about the position or statement of the firm itself. Think about the real business world: IF all is fine: the balance sheet, the auditors have nothing to point out to the firm, then all is fine. Here, something is going on badly for it
2)
what eventually became (i) ________ was that the company had been concocting “value” out of thin air,
the meaning of this portion of the sentence is that, as in the financial gergo, the firm from its conducting it is selling to the stakeholders and shareholders (maybe) is fluff, nothing, fried air. It is carving "value" from nothing concrete. So, what is really clear, as the situation is emerging, is that without a shadow of the doubt, the firm is making a fraud. So B is the clear win word here.
3)
thanks not to the trading strategies it promoted as visionary but to financial (ii) ________ that turned a once-solid entity into the most notorious (iii) ________ in an era of corporate scandals.
The "value" out of thin air is the clear result of a game (think about the Ponzi Scheme for instance) which turned what was a solid and well-established firm into a debacle, a complete failure in an era of corporate scandals.
Re: As the finances of the energy-trading firm began unraveling, what even
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12 Jul 2019, 22:00
12 Jul 2019, 22:00
1
Why ii) games is selected ? Why not redemption ? I am not clear about this. Can you please explain this ?
